Disney and News Corp are trying to figure out what to do with their portions of the company

Hulu has been in talks with potential buyers lately, but there are no formal offers on the table quite yet.

Hulu's board of directors has been contacting potential buyers in an effort to sell the company, but it looks like there are no solid offers yet. It's also unclear how many buyers are interested in the company.

Hulu is a joint venture of NBC Universal Television Group (Comcast), Disney-ABC Television Group (The Walt Disney Company) and Fox Broadcasting Company (News Corp). Hulu was founded in March 2007, making it only six years old.

Currently, Disney and News Corp are trying to figure out what to do with their portions of the company. One option is to reportedly buy each other out.

A huge issue with Hulu is that it only has short-term contracts with content providers, meaning the buyer would have to work to renew these contracts or find other sources of content -- and this does not come cheap.

Hulu has some tough competition out there, such as Netflix and Amazon. The two have similar subscription-based models and have deep pockets to continue offering premium content at fairly low prices ($8 per month for Netflix or $79 per year with Amazon).